Heat's Victor Oladipo Reportedly Exercises $9.5M Contract Option to Stay in Miami

Victor Oladipo exercised his $9.5 million contract option for the 2023-24 season and will remain with the Miami Heat, according to ESPN's Adrian Wojnarowski.

Oladipo signed a two-year, $18.2 million contract with Miami last offseason. Opting into the contract was seen as the widely expected result, with Oladipo averaging 10.7 points, 3.5 assists and 3.0 rebounds per game. He was also limited to 42 games because of injury and falling out of the Heat's rotation.

"At best, maybe he would get half a midlevel [$5.6 million] on the open market," a scout said, according to Barry Jackson of the Miami Herald.

Oladipo had missed most of the last three seasons, playing in just 83 total games. It's become abundantly clear he's a diminished version of the two-time All-Star he emerged as during his time with the Indiana Pacers.

"It's a roller coaster, it's a season," Oladipo said. "You can't expect the same thing every time. It is what it is. I just went out there and played as hard as I could for as long as I could."

Remaining with the Heat was likely more of a financial decision than one made out of a desire to remain in Miami.